That particular risk is huge and daunting and would almost certainly result in the loss of hundreds of billions of dollars of income to Canadian pensioners over many years. We need to invest in the world that will be and not some imagined world.
As we all know, there is $45 trillion in ESG strategies. It's not that these strategies are underfunded, dear friends; it's that they simply don't work. They have been underperforming markets by 250 basis points for the last five years. That's going to result, if we continue along that path, in underfunded pensions and people who cannot support themselves in their old age.